Dow Ends Day Up 198
S&P 500, Nasdaq also up
By Newser Editors and Wire Services
Posted Oct 28, 2015 3:16 PM CDT
In this Oct. 2, 2015 file photo, traders Edward Curran, left, and Robert Arciero work on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew, File)

(Newser) – A late afternoon rally is leaving the stock market solidly higher at the closing bell as traders get more comfortable with the prospect of higher US interest rates. Stock indexes had wobbled in mid-afternoon trading Wednesday shortly after the Federal Reserve released a policy statement saying it would consider raising rates at its December meeting. Bond prices fell, sending yields higher, and the dollar appreciated against the yen and the euro as traders anticipated higher US interest rates. The price of oil soared, sending energy stocks higher. The Dow Jones industrial average rose 198 points, or 1.1%, to 17,779. The Standard & Poor's 500 index rose 24 points, or 1.2%, to 2,090. The Nasdaq composite rose 65 points, or 1.3%, to 5,095.

 

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